US and UK orders spark revival (#1682188)

The textile industry in Tirupur has seen a revival in demand following a challenging two years. Growth has been sparked by an increase in orders from the US and UK helping local factories to function at 95% capacity.

“The units are getting orders from the US for the upcoming Spring season,” said the Tirupur Exporters Association’s president K M Subramanian, ET Bureau reported. “A few months ago, the units were operating at 60% to 65% capacity. But that has changed now… In FY24, Tirupur has clocked a revenue of Rs 35,000 crore which is likely to increase to Rs 40,000 crore in FY25.”
 
Tirupur’s textile factories have also reported increased orders from UK based businesses in anticipation of the highly anticipated free trade agreement between India and the UK. Numerous businesses are seeking samples with the plan to make large orders when the trade deal is finalised. The next round of talks concerning the agreement is scheduled for early 2025.
 
India’s neighbour and textile trade competitor Bangladesh has recently been experiencing political instability. This has led some of the global businesses which source from the country to move their orders elsewhere and this has also led to an influx of US orders in Tirupur.